Episode 1: What’s this all about?

Teaching kids about money
Episode 9: Making More Money

SHOW NOTES

My name is Ben Jones, I’m the father of Mak and G, I’m passionate about financial education, and I want to help the next generation learn about money…

 

Teaching your kids the fundamentals about money is the key to starting them off to a good financial start in life.

 

The earlier we knock down walls about investing the better, and me and my children are here to help teach the young how to be financially successful…

 

“Three out of four people now live paycheck to paycheck, I don’t want it to be a problem for my kids.” – Ben Jones

 

“Always have an emergency fund, pay yourself first, make your money work for you.” – Ben Jones

 
Time Stamps:

00:12 – How I overcame financial struggles and learned everything I know about money.

01:32 – The problem of personal finance in the US.

02:15 – How I taught my kids about money and finance.

03:35 – How long coins and paper money have been used for.

04:10 – How to manage your money effectively with a budget.

 

Resources:

Money with Mak and G Website

 

Connect with Ben Jones:

TRANSCRIPT

DAD: My name is Ben Jones and I’m the father of Makenna and Grant Jones, also known as Mak and G. And I’m passionate about financial education and want to help the next generation learn about money. Now, my dad came off a farm in a town in southern Indiana that most people have never heard of. They moved to the big city of Indianapolis and raised six kids. I was number four, and financial struggles were common, and why wouldn’t they be when you have that many mouths to feed, and two jobs that only paid enough to get by? When growing up, I didn’t even realize I was wearing my sister’s hand-me-downs until someone made fun of me in high school because my shirt buttoned on the wrong side. My mom drove her success demanding that we all become professionals. We got one of five choices in college, a doctor, lawyer, engineer, accountant or nurse because you could get a certification and more importantly, you could get a job. No need to spend money on a degree that didn’t have a good return, my mom said.


And since I was really good at math and science, I started in engineering. But I found out I liked counting money a lot better after starting a t shirt business while at Purdue University. So I moved to Indiana University and studied accounting. Then I got my CPA CFA charter, an MBA from the University of Chicago and finished it all off with my CFP. My parents paid for school, but we had to pay them back because they needed a pension plan. Personal Finance is a real problem in the US. And it makes me very nervous. Many people don’t have a mentor or someone they can trust or emulate to make solid financial decisions. Social Security is struggling and lots of college graduates are moving back home because they can’t financially stand on their own two feet. Three out of four people now live paycheck to paycheck. I don’t want it to be a problem for my kids. My mom taught me some common sense money mantras, like, always have an emergency fund, pay yourself first or make your money work for you. I listened, but several of my siblings didn’t. Now after teaching for years, I figured I had the background and the skills needed to help. I’ve taught 1000s of students in accounting and finance courses, along with CPA CFA, and CFP review courses as well. So I did a little test and started to teach Mak and G about money. I put some money in an investment account. We talked about companies buying stock, and why after a while their account received money. Those were dividends that you get for owning the company. I realized quickly that kids are smart. They don’t care if they don’t know something because they ask questions. So I thought other kids could easily benefit from what Mak and G were learning. I figured the earlier we knock down walls about investing, the better. Surprisingly, parents are more likely to talk about other subjects that are much more sensitive than money. I’m sure you can guess what that one is. So let’s get a podcast started to get the conversation started. And what better way to do it then by having someone at their own level teach it? Let’s make a difference for our kids and your family by teaching the young to be financially successful. Let’s turn a little screen time into a little green time.

 

MAK: Hey, Dad.

 

DAD: Oh, hi, McKenna.

 

MAK: I want to teach other kids about money. Like the stuff you’ve taught me.

 

DAD: Oh, yeah. Like what?

 

MAK: I found a lot. Did you know coins and paper money were used over 3000 years ago? And a piggy bank came from a type of plate that was used to hold money. Not because a bank was shaped like a pig.

 

GRANT: Hey, oh, and help to. I am Grant. Did you know that the $1 Bill has more germs on it than our toilets? You That is so gross.

 

DAD: Thanks, guys. I think the two of you could share a lot with our listeners. What else do you think they should know?

 

MAK: Well, you told us that a lot of people have trouble managing their money. So we thought we’d share how you make money, how you spend it and how you make a plan.

 

GRANT: That’s a budget MaKenna.

 

DAD: Awesome. G. That’s right.

 

GRANT: We can also tell people how to save money so they can buy lots of toys.

 

MAK: Really G? This is about financial education. Any kid knows you can buy toys with money. Adults use money to pay for things like food, or house and clothes. Plus, they have credit cards and borrow money to buy big things like cars. No one talks to you about that. It’s confusing. So I want to help.

 

GRANT: Ya. Dad does know a lot about money. He studied it for over 20 years.

 

MAK: He’s really old.

 

GRANT: So we can ask him a lot of questions. I also want to find out about investing.

 

MAK: Yes, I am down stuck?

 

DAD: Okay, kids. That sounds awesome. Now this podcast will help your generation which means your age level and the next and it’ll help them make better financial decisions so they can live the life they’ve always desired without worrying about money.

 

GRANT: You mean like buying lots of toys.

 

MAK: Or buying stock in your favorite company like McDonald’s and earning a dividend?

 

DAD: Exactly. Our first season will give your kids some of the basics so they can understand the fundamentals of money. And we encourage you to connect with your kids and start the conversation about each topic and money in general. You can do it in the car while taking your kids to soccer, dance or anywhere. Be sure to subscribe rate and review this podcast. You can check out more money resources and what Mac and G are up to on www dot money with Mack and g.com. Thanks for being here. And we can’t wait to share tons of money insights with you.

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